EBRD invested EUR 50 million in senior preferred bonds placed by PKO BP S.A. Powszechna Kasa Oszczednosci Bank Polski S.A. (PKO BP, or the Issuer) as part of a EUR 750 million inaugural bail-an-able issuance to be listed on the Luxemburg and Warsaw Stock Exchanges. The bonds have a 3-year remaining maturity with a call option in 2-years.
The project supports the resilience and regulatory compliance of PKO BP, a systemically important institution in Poland, building resilience to market shocks by contributing to the gradual build-up of its loss absorption capacity in the form of eligible bail-in-able instruments. The project also delivers on the Bank's green agenda and national green economy priorities for Poland.
ENVIRONMENTAL AND SOCIAL SUMMARY
Categorised FI (ESP 2019), PKO BP is an existing client of the Bank and will be required to continue to comply with EBRD's Performance Requirements 2, 4 and 9 and to report annually to the Bank on ESHS issues and performance. As for all capital market transactions, the use of EBRD's funding under this project for Category A projects.
PKO BP S.A. Powszechna Kasa Oszczednosci Bank Polski S.A.
PKO BP is Poland's largest financial group, accounting for around 16% of sector's assets, 17.4% of loan portfolio, and 17.8% of deposits. The bank had total consolidated assets of PLN 439 billion (EUR 90.4 billion) as of 30 September 2022. The State Treasury is PKO BP's largest stakeholder, with a 29.43% stake as of December 30, 2022. Nationale Nederlanden pension fund holds 8.15% and Aviva pension fund holds 7.26% of total shares.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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+48 22 778 86 04
PKO Bank Polski S.A.
Ul. Migdalowa 4
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ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
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